Exxon Can Regain Energy

Though mixed quarterly results failed to excite investors, a rising dividend and aggressive buyback program should boost shares.

Exxon didn't deliver a knockout first quarter. But investors shouldn't be scared off by the global exploration and refining heavyweight's results.

Early Thursday, ExxonMobil (ticker: XOM), the largest U.S. company by market value, announced that earnings totaled $9.5 billion, or $2.12 a share, up from $9.45 billion, or $2 a year earlier, despite a 12% drop in revenue to $108.8 billion.